China’s CDB Leasing has received US$358.6mn for the acquisition of a portfolio of maritime containers from China Shipping Container Lines (CSCL).

The facility, arranged by DVB Bank and co-funded by China Development Bank (CDB), includes the lease back of the containers to CSCL, in a move to enhance its cash position and optimise its financial structure.

The portfolio of containers sold comprises 139,941 units in the age range of three to six years, representing approximately 20% of the containers owned by CSCL as of December 31, 2011.

According to DVB, “this transaction marks a significant development of CDB into the maritime container leasing industry, in addition to its established aircraft and ship leasing business”.

The Singapore office of Watson, Farley & Williams (WFW) advised DVB and CDB on the transaction.